Corestate launches German spin-off

Swiss real estate investor Corestate is launching a new property management firm specialising in the German market.

The new company, Capera, will be headed by managing director Walter Leitner, who joins from German real estate service provider alt+kelber.

Capera’s first mandate when it opens for business in July will be the management of a portfolio of 14,000 German commercial and residential units owned by Corestate.

The company’s headquarters will be located in Frankfurt with six additional regional offices in Essen, Solingen, Gera, Hamburg, Hannover and Magdeburg.

Capera’s operations are ‘especially tailored to the needs of national and international institutional investors and fund managers’, the company said in a statement. The firm will focus on property and facility management, letting services, consulting and sales.

Corestate founder Ralph Winter believes the new company will provide a unique service. ‘The German real estate market is in need of a professional property management firm with nationwide operations,’ he said.

‘Our inventive real estate management concept is based on a performance-based compensation, to the contrary of current market-standard remuneration systems. German real estate has enormous potential if managed professionally,’ he noted.